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If you, as an employer, have 1099 employees on your staff from time to time, you may be wondering whether you are required to provide health insurance to them. The phrase “1099 employee” generally describes people that act as independent contractors or are “self-employed.” Independent Contractors (Self-Employed) vs. Employees.
However, unless you’re an expert in the HVAC industry, you need a contractor to handle your heating and air conditioning needs. So, if you want to choose the perfect HVAC contractor, below are the four tips to consider from the get-go: 1. They might have worked with an HVAC contractor before and were happy about their services.
Insurance, liability, and workers’ compensation . Other costs: Insurance, taxes, advertising, vehicle maintenance, dumpster fees, and petrol. Roofing isn’t a one-person job; you’ll need, at least, two roofing contractors to work on a single site. 13) Business insurance. Roofing equipment and materials.
If you want to be a contractor, being licensed and bonded will have a major impact on your ability to work in the city and state where you live and work. Many state and local governments require that contractors who perform work above a threshold amount obtain licenses. What Are Surety Bonds? Bond Types.
These days, many contractors are faced with managing larger, more complex projects on a regular basis. Contractors have to pay attention to budgets, deadlines, collaborators, change orders, progress reports, payroll, safety, compliance requirements and much more. Insurance and bonding requirements. Building codes.
By Bruce Jervis Commercial general liability (CGL) insurance policies have been the source of much controversy in the construction industry. The policies insure against personal injury or property damage caused by an occurrence during the contractor’s performance of the work. Insurers certainly don’t intend them to.
INSURANCE |. Many State and Federal projects require a contractor to be bonded. In a way, a surety bond is like insurance; it is a three-part agreement between the contractor, the organization requiring the bond (e.g. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management.
In Pennsylvania, contractors working on residential projects need to be aware of the Pennsylvania Home Improvement Consumer Protection Act. The Act establishes a registration program for home improvement contractors, along with required contract provisions, minimum insurance coverage, and more. Project details.
In recent years, inflation, supply chain issues, and labor shortages have only increased the likelihood of project delays, performance issues, and contractor default. While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC.
The life of a contractor is a hectic one with most of the time spent on a jobsite — and a lot of places in between. Your base insurance policy may offer some coverage for unexpected damage to some business property, but making assumptions about the extent of coverage could lead to some financial distress. .
However, before starting work on a building financed with a construction-to-permanent loan, both property owners and contractors need to understand the risks. Contractor risks with a construction-to-permanent loan. These risks should be a non-issue when contractors have a comprehensive risk management plan in place.
By streamlining claims, reducing costs and easing administrative burdens, commercial MRPs connect property owners with a trusted network of skilled general and specialty commercial contractors who are committed to delivering accurate estimates, timely repairs and exceptional service. 3,000+ U.S.
Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. The basics of retainage Retainage, also called retention, is an amount withheld from the contractor until a later date.
Liberty Mutual Insurance Company (“Sloan”), the US Court of Appeals for the Third Circuit has an in depth discussion regarding some technical yet very important clauses found within many construction contracts between general contractor, subcontractors, owner and the surety. Liquidating Agreement. Sloan pg 17.
Well, in a recent construction dispute in Maryland, “the Man” was the owner’s insurance company. The construction manager was a joint venture between Perinit Building Company and Turner Construction Company (the “Contractor”). The Insurance Claim. In Perini/Tompkins Joint Venture v.
General contractors know these risks when they take the role. Luckily, that’s what insurance is for, right? But what if the general contractor isn’t at fault, and a subcontractor is to blame? Does a general contractor’sinsurance cover their subcontractors’ accidents or mistakes? General liability insurance.
Construction contractors face potential loss with each project they take on. When a loss occurs, it can put a real crunch on a contractor’s cash flow. Project loss insurance has the potential to save contractors from devastating project losses, no matter the cause. It also helps contractors manage cash flow during a loss.
Reading and understanding an insurance policy on a construction project can be a lot like understanding my kids playing Speak Out. Proper insurance coverage is an important risk management tool for contractors, subcontractors, project owners/developers and design professionals. Nautilus Insurance Co. ,
Restoration contractors often work on a property after damage from a storm, fire, or other natural disaster. On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. Understanding homeowner insurance policies. Insuringagreement.
To help your business remain viable, contractor’sinsurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. Related: 9 Common Insurance Policies in Construction. Why a certificate of insurance matters.
An insurance policy rarely meets every contractor’s needs out of the box. One of the most common endorsements you’ll likely encounter involves additional insured (AI) parties. In this article, we’ll explain additional insured endorsements, and how they work in construction. What is an additional insured?
Restoration contractors often work on a property after damage from a storm, fire, or other natural disaster. On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. Understanding homeowner insurance policies. Insuringagreement.
When working in construction, your insurance policy gets issued as a fairly standard contract. Like a basic construction agreement, you can upgrade or downgrade your insurance policy just as a customer might do with the fit and finish of a building. What is an insurance endorsement? How insurance endorsements work.
When a property owner files an insurance claim to cover a restoration or roofing project, the owner typically deals directly with the insurance company. They may not have the funds available to pay the contractor out of pocket, so they’re counting on that insurance check to cover the construction costs.
This type of damage may leave electrical contractors unable to foot the bill. Scenarios like these stress the need for an electrician to have insurance coverage in place. Thus, a strong insurance plan helps you rest easier both on and off the job. Why can an electrical contractor use insurance?
Just the other day here at Wolfe Law Group , I had to do so research for a client on the licensing rules for contractors. This got me thinking that many contractors and hiring parties do not necessarily know the rules that govern contractors of all types. Home Improvement Contractors ( La R.S. 37:2150 et seq. See La R.S.
In fact, it’s pretty much the same process as hiring a general contractor, and perhaps even a doctor, accountant, or any other professional. These days you’ll find that some contractors prefer not to give out the information of their best workers but depending on how close you are with your “competition,” they may be willing to lend a hand.
(c) “Job order” – a firm, fixed priced, lump-sum order issued by an organization to a job order contractor for a definite project scope of work as compiled from the unit price book to be performed pursuant to a job order contract. (d)
Having a clear, comprehensive contract with your general contractor is one of the most important aspects of a successful home remodeling or renovation project. A contract protects you, your budget, and your property, so make sure to consider the following as you negotiate your agreement: Licensing. Scheduling. Warranties.
The construction industry uses different kinds of agreements depending on the project’s scope, delivery, schedule, budget, and the parties involved. A construction contract agreement gets everyone involved in a project on the same page. . Under a cost-plus contract, contractors are paid for all of their construction-related expenses.
Electricians are set for a 7% wage rise from 2024 after a new pay deal was hammered out by electrical contractors and union Unite under the JIB collective agreement. “This agreement gives us an opportunity to work with Unite on longer-term ambitions to update and modernise the industry to improve skills for a low carbon economy.”
Sphere Drake Insurance, PLC , 202 F.3d 2000) (“We adhere to our view that one-sided agreements to arbitrate are not favored.”). June 5, 2014), a payment dispute between a subcontractor and contractor on a federal project. Some of them give just one of the parties an option to require arbitration. See DiMercurio v.
Along these lines, you're forthright with your next concrete project and are searching for tips to select the best concrete contractor in your town. Also, as not all contractors are made equivalent you must limit your decisions to pick the best one. You can likewise request referrals.
An AIA press release highlights the array of how AIA agreements seek to accommodate the various ways in which design build projects are delivered. The key document is, of course, the agreement between the Owner and the Design-Builder. For example, the 2014 Exhibit A is an insurance and bonds exhibit. Additional Changes.
He is a partner in the law firm of Sabo & Zahn, concentrating in construction law and representing owners, contractors, architects, developers, engineers and other parties in the construction process. You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. Categories.
Mayer Building Company is a New Orleans-based general contractor that specializes in commercial construction and historic renovations. You’ll generally want to prequalify new general contractors before establishing a working relationship. Download Mayer Building Company’s sample subcontractor agreement. . Progress payments.
Indemnification clauses appear in nearly every agreement, but they are often overlooked as mere boilerplate provisions after the parties have painstakingly negotiated all of the other terms. Indemnification clauses are arguably the most important part of an agreement when an accident or dispute arises on a project. Code § 2782; N.Y.
general and administrative and other overhead costs, insurance costs, bonding and alternative payment protection costs, protective clothing, 5117.9002 Applicability. (a) “Coefficient” means a numerical factor that represents costs (generally indirect costs) not included in JOCPB unit prices (e.g., b) Statement of work. (1)
The Louisiana State Licensing Board for Contractors (LSLBC) is a very useful place for Louisiana contractors. I was recently reading up on the requirements for home improvement contractors. The LSLBC is a one stop shop for all things related to contractor licensing. It is a good place for both contractors and consumers.
“May unintentionally faulty subcontractor work that damages an insured’s work product constitute an ‘accident’ under a commercial general liability insurance policy?” Mechanical Contractors, Inc. 2020 WL 3527909 (June 29, 2020). 2d 871, 880 (Fla. ”); Lamar Homes, Inc. 3d 1, 12 (Tex.
281 Broadway Holdings, LLC , a subcontractor was forced to pay for the costs of defense of the owner and general contractor, even though the court found that the contractor was not at fault. The owner hired Pavarini as the general contractor. The owner and the general contractor filed cross-claims against SJ for indemnification.
He is a partner in the law firm of Sabo & Zahn, concentrating in construction law and representing owners, contractors, architects, developers, engineers and other parties in the construction process. You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. from Cialis.
He is a partner in the law firm of Sabo & Zahn, concentrating in construction law and representing owners, contractors, architects, developers, engineers and other parties in the construction process. You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. Categories.
In the State of New York, contractors working on certain residential projects need to have a good understanding of the NY Home Improvement Contracts Act. Here’s what NY residential contractors must include (and what can’t be included) in a New York home improvement contract. Law §395-A.
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